Despite the gains, the Nifty continued to trade below the 9,000 level, which it breached on Monday after India’s economic relief measures to support an already slowing economy hit by the pandemic disappointed markets.
Despite the gains, the Nifty continued to trade below the 9,000 level, which it breached on Monday after India’s economic relief measure. (Photo: Reuters)
HIGHLIGHTS
- Domestic market shares opened in green on Wednesday
- However, uncertainty remains at large due to the coronavirus crisis
Indian shares rose on Wednesday, helped by gains in beaten-down banking stocks and ITC, even as domestic coronavirus cases continued to rise unabated, dampening the growth outlook for Asia’s third-largest economy.
Despite the gains, the Nifty continued to trade below the 9,000 level, which it breached on Monday after India’s economic relief measures to support an already slowing economy hit by the pandemic disappointed markets.
The Nifty was up 0.72 per cent at 8,943.20 by 9:30 am, while the Sensex was up 0.76 per cent at 30,434.46.
HDFC Bank Ltd and mortgage lender HDFC Ltd, up more than 1{b1ee4ac4d8d7b8e1af61a560a11ca52574b8103b547ccac8037ce0cdf9e7ba58} each, were the two biggest boosts to the Nifty 50. Consumer products giant ITC Ltd rose 3.3 per cent.
Coronavirus infections in India reached 106,750 as of Wednesday, a jump of more than 5,600 from the day before, with deaths crossing 3,300.
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